Green Jade Group shutters its online games studio
Green Jade Games shuts down after just over half a decade in business leaving GameCo merger to falter
Green Jade Group’s CEO Benedict McDonagh has announced the closure of the company’s game studio Green Jade Games.
In a recent LinkedIn post, McDonagh thanked everyone involved with the studio since its inception in 2017 but said Green Jade Games had never found a hit title to lift it fully off the ground.
The studio was founded on former Green Jade Group CEO Jesper Kärrbrink’s plan to “change the face of gambling content”.
Just over half a decade on, McDonagh remarked that the journey had been an “epic experience”, however it was that lack of finding its headline title which meant the time had come to end the business.
Green Jade Games has built a company spanning five continents and held licences in the UK, Greece and Malta.
McDonagh also mentioned about how he took the greatest pride in the studio’s Hammer of Fortune title.
He wrote: “It was the first story-driven slot with chapter after chapter of narrative played out in alignment, with players spinning and tracking the battle of Brin versus Gunhild, and on top of all this, we believe it was the first slot that combined skill with RNG – requiring the player to align their loot chests in order to trigger the bonus.”
In October last year, the studio announced a business merger with GameCo but, given the shuttering of the studio, it’s likely the deal will have fallen through.
In his LinkedIn post, McDonagh added: “Given that I’m writing this letter, you will understand that we didn’t ever find our hit. We didn’t ‘luck out’ with a perfect recipe of timing, maths, features and front-end, and we didn’t iterate to a base of good earners quickly enough.
“Whilst I’m gutted beyond my ability to communicate through my writing, I am not morose, in fact, I am delighted that we achieved so much more than we could have imagined when we first started dreaming.
“We built a world-class platform, with features no one else has replicated, integrations with amazing aggregation partners, gained licenses in the UK, Greece and Malta, and boasted 100% uptime I think, practically forever.”
McDonagh did not mention whether Green Jade Games will be selling its individual game titles, modules or IPs as part of the closure.